Joint Select Committee on Deficit Reduction

An economist to former President George H.W. Bush unveiled a proposal to reform the retirement savings system by replacing the deduction for contributions to retirement savings accounts with a flat-rate refundable credit deposited directly into a saver’s account.

Congress’ solution to the debt limit crisis and rising deficits is fully operational, but many are left wondering whether the bipartisan Joint Select Committee on Deficit Reduction is capable of fulfilling its mandate.

Senate Majority Leader Harry Reid was the first of the four congressional leaders to make his three selections for the Joint Select Committee on Deficit Reduction, with Speaker John Boehner and Sen. Mitch McConnell following Wednesday, and Rep. Nancy Pelosi yet to make her picks.